INSUBCONTINENT EXCLUSIVE:
has fallen below its historical average of 11.4 and has now reached about 11.2, the lowest levels since early 2016
It rose to 13.3 earlier this year before a rising dollar sideswiped emerging equities.
Developing-nation stocks slid almost 9 per cent this
year after a stellar 35 per cent rally in 2017
The more challenging backdrop also led analysts to start reducing forecasts for corporate profits, which had been expected to underscore a
rally this year after rising in recent years
John Woods, says stocks may get even cheaper through September
